Product Summary

Identity Theft Prevention Program Creation and Maintenance Module

The purpose of the ITPP Creation and Maintenance Module is to provide a simple step-by-step process to create an ITPP. The major goal of the ITPP is to identity covered accounts and the level of risk for each type. By being prompted to entering several pieces of information and answering a few questions, the Module will generate an Identity Theft Prevention Program in a matter of minutes. The ITPP can be printed at any time or modified as necessary to maintain compliance. This module will fulfill most of the obligations required of the Compliance Officer.

Employee Training Module

The Employee Training Module contains two sections, the Training Guide which exists in two formats, the PowerPoint version and the full text version which includes direct references from the FTC official documents. The second section of the Training Module is the Testing program which offers a test to complete the training process. Anyone that has completed the training process, including the test, will be entered into the Identity Theft Prevention Program to fulfill the requirement of tracking employees that have completed the training. The Red Flag Compliance Tool also has a very extensive documentation package that will allow users to become proficient with the tool in just minutes.

Red Flag Compliance Tool

The third feature and the most extensive is the Red Flag Compliance Tool. This tool has many features but its main benefit is that it follows the intent of the FTC’s Red Flag Rules in that the entire purpose of the Identity Theft Prevention Program is to “mitigate identity theft in the connection with the opening of a covered account”. The Red Flag Compliance Tool does this by allowing the dealership to attempt to resolve all relevant Red Flag Rules for each customer at the dealership while they’re in the process of purchasing the vehicle. The most important function of the Red Flag Compliance Tool is the detection of Red Flags. The process as outlined in the official FTC documents is to obtain identifying information and verifying the identity of a person opening a covered account. The Red Flag Compliance tool does this by using third party databases and having the dealership representative asking question to reconcile all relevant Red Flag rules. The information from each transaction can be stored in the deal jacket of the customer and can also be used to generate reports to verify the effectiveness of the Dealer’s Identity Theft Prevention Program for senior management.

Red Flag Violation Notification Feature

The final feature is the Red Flag Violation Notification. The purpose of this feature is to allow a notification in email format to notify senior management or anyone else designated at the dealership in the event that a compliance violation has occurred. This process will occur overnight so that all transactions from the previous day will be reviewed. These violations could be actual Red Flag violations or some flaw in the process that may indicate a training issue. The availability of this process will resolve the requirements needed to fulfill the Administrating the Program and Preventing and Mitigating Identity theft sections.